BCH/USDT – 30M – SELLThe pair Bitcoin Cash/Tether (BCH/USDT) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support line at 540.8 will continue.
Caution: A possible counter-trend in the direction of resistance at 570.7 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Last Engulfing Top’ candle pattern is existing. The candles show ‘Last Engulfing Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 581.5 |
| 2nd High | 570.8 |
| Next High | 570.7 |
| Current Price | 560.400000000 |
| Next Low | 540.8 |
| 2nd Low | 538.7 |
| 3rd Low | 493.8 |
570.7 – 564.5 – 563.7 – 540.8 – 538.7 – 550.6 —
562.700000000 – 562.700000000 —
55.253681443018 – 57.38571661921 —
– —
570.7 – 1771603200
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Last Engulfing Top – – –